hong kong legco passes trust law
In what has been described as a bid to boost the competitiveness of Hong Kong’s asset management industry, Hong Kong's Legislative Council has approved proposed amendments to the jurisdiction’s trust laws.
Wills And Trusts
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coutts shifting trust operation base to jersey
Coutts & Co is shifting its “growing” international trust business to Jersey, and as part of this strategy is looking for a buyer for its trust operations in the Cayman Islands.
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labuan fsa revokes ec trust labuan licence
The Labuan Financial Services Authority has revoked the trust company licence of EC Trust (Labuan) Bhd, effective today, according to a statement on the Labuan FSA’s website.
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hmrc looks to simplify as it issues iht trust
HM Revenue & Customs has sought to reduce the complexity of the way inheritance tax trust charges are calculated, in a consultation document released late yesterday in London.
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malta retirement scheme body report info
All Maltese pension providers and administrators should meet a 17 June deadline to file an information disclosure document with the French tax authorities on behalf of “any French-resident beneficiaries”, according to a Maltese pension scheme association.
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confusion for advisers qrops admins over
A new French law that appears to require pension fund trustees to report to France’s tax authority on UK personal pensions that have French tax-resident beneficiaries is causing confusion among financial advisers and pension fund administrators.
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step journal swiss minister attacks anglo saxon
Swiss finance minister Eveline Widmer-Schlumpf has revealed an antipathy towards trusts, which appears to mirror the thinking behind France’s recent move to force trusts to report on any French tax-resident beneficiaries they may have.
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hk trust laws reforms edge closer as govt
Hong Kong’s government has published the conclusions of a three-month consultation carried out earlier in the year to gauge industry views on plans to reform and modernise the special administrative region’s trust laws.
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confusion as french trust law filing date
Financial advisers in France report that a state of confusion exists in fiduciary companies and among accountants specialising in trusts, as the date for declaring an interest in trusts 15 June approaches.
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french mini fatca fears
Tax experts who have been studying Frances new tax regime for wealthy individuals are likening its treatment of trusts to elements of Americas much-criticised FATCA regulations.
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take care on tax charges warns trust adviser
IFAs could unintentionally expose their clients to punitive tax charges when setting up trusts, The Asset Protection Strategy, a UK-based training and support company, has warned.
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fpi launches online iht training
Friends Provident International has unveiled a series of online seminars which are designed to educate and support advisers in relation to inheritance tax and trusts.